Level Homes Launches National Expansion in the Triangle

In its first foray outside Louisiana, Baton Rouge-based Level Homes is planning to develop three communities totaling 230 single-family homes in Apex, Cary and Durham. According to the Triangle Business Journal, the company has recently opened a new regional office in downtown Raleigh to market its expansion.
In Apex, Level Homes is developing the Ellington Place community comprised of 52 home lots. The company acquired the 14-acre site in October for $2.04 million and plans to open a model home here this April, which would be the Triangle’s first. Prices are expected to start at $250,000s.

In its first foray outside Louisiana, Baton Rouge-based Level Homes is planning to develop three communities totaling 230 single-family homes in Apex, Cary and Durham. According to the Triangle Business Journal, the company has recently opened a new regional office in downtown Raleigh to market its expansion.

In Apex, Level Homes is developing the Ellington Place community comprised of 52 home lots. The company acquired the 14-acre site in October for $2.04 million and plans to open a model home here this April, which would be the Triangle’s first. Prices are expected to start in the $250,000 range.

The company’s largest project in the Triangle will be located in east Durham. Dubbed Cardinal Oaks, the new community is comprised of 140 home lots with prices starting at $150,000. The houses will be completed in late summer, Level Homes announced.

In June or July, Level Homes will break ground on The Estates at WestHigh in Cary. The community includes 38 home sites spread across 20 acres of land the developer acquired in December for $2.5 million. Prices here will start at $400,000.

“We are a builder that provides homes that customers aspire to buy at all income levels. This comes with a deep understanding of any market we enter, and careful planning of our homes and communities,” said Todd Waguespack, Level Homes’ managing partner.

According to the National Housing Report, Raleigh’s real estate market has shown a 30 percent increase in home sales from 2011 to 2012. Furthermore, the area’s population ranks among the fastest growing in the country.

In other news, Belmont Sayre developer Ken Reiter is planning to build approximately 119,000 square feet of commercial and residential space on North Greensboro Street in Carrboro. The NewsObserverreports that the town’s Board of Aldermen has unanimously approved a conditional-use permit for the project. The construction schedule is yet to be determined.

Dubbed Shelton Station, the new development will include a two-story, 24,000 square-foot commercial building offering office and retail space, as well as a four-story L-shaped residential complex with 94 apartments, 20 of which will be affordable. The project will also provide 170 parking spaces.